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2022 Q2 Denver Office Market Report

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Downtown Denver in the evening

Denver’s office recovery continues as net absorption nearly doubled its figure from the first quarter 2022.

Key Takeaways

  • Absorption continues to trend in the right direction, recording the largest figure since 2019 during the second quarter.
  • Leasing activity continues its trend toward pre-pandemic levels, realizing 2.1M SF during the second quarter.
  • Ongoing fears surrounding the pandemic are fading and the majority of large companies are expected to be back in the office, albeit in an increasingly hybrid model, by late 2022. 
  • Denver remains well-positioned for recovery due to its successful vaccination distribution, diverse tenant base, educated workforce, and company relocation/expansion announcements.

2Q 2022 Office Report

2022 Q2 Denver Office Market Report

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Related Experts

Robert Whittelsey

Principal | Occupier Advisors Group

Denver

Consistently recognized over the past two decades as one of the top brokers in Colorado by the Denver Business Journal, I am widely recognized for my real estate strategy development and negotiation skills. The strength and depth of my local and national market knowledge combined with the vast resources deployed on behalf of my clients, results in unparalleled results.

As a Principal of Colliers International Denver and team leader of the Office Property Division, I provide a full range of services to my clients to assist them with identifying their core goals and values.  Then through listening to my clients, I create solutions that positively affect their operations and balance sheet through reduced costs, increased productivity and increased earnings.

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Abby Pattillo

Vice President

Denver

Abby began her career at Colliers Intentional Denver as a Research Analyst, responsible for the aggregation, analysis, interpretation, and reporting of market research data.  In this role, she developed client-oriented interpretations and graphics indicating market trends and interpreted this data through various graphic formats, including quarterly written market reports and other presentation quality documentation of market activity and trends.
 

The experience Abby gained as a Research Analyst played an integral part in her transition into brokerage as she is very familiar with the market and well versed in market trends, making her an ideal tenant representation broker.  Abby works collectively with Robert Whittelsey on the tenant representation team and also assists the Southeast landlord representation team. 

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Chris Wiley

Principal

Denver

As a principal of Colliers International, Denver, I focus my attention on representing and consulting for local and national users of commercial real estate. In this capacity, my client’s trust in my abilities as a result of my attention to detail, strategic planning and negotiating strategies. My team members and I provide a full range of services to our clients.

2012 – Present:
Colliers International – Principal, Office Division

2008 – 2012:
Colliers International – Vice President, Office Division

2005 – 2008:
Colliers International – Broker, Office Division

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Matthew Ball

Principal

Denver

My practice is focused on managing complex geographic, logistical and market-driven demands and provide unparalleled information for companies that occupy office locations. I create a competitive advantage for clients by having an advisor that will drive scenario planning, make recommendations and implement effectively.
My team and I work to understand your business strategy, competitors and industry drivers that can influence your choice of space – its location, functionality, flexibility and cost.

Brokering over 400 transactions and $200 million in gross lease/sale value, allows me to consistently be one of the top producers within my firm.
2010 – Present: Colliers International – Vice President, Office Division
2004 – 2010: Colorado Commercial Companies – Associate

AREAS OF EXPERTISE: Strategic planning and scheduling, workplace integration, site identification/analysis, financial analysis, strategic negotiation support/development, change management, operation expense consulting, lease management, technology integration, culture development

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Jeremy Reeves

Vice President

Denver

My practice is focused on working with office space users to employ strategies that complement their business objectives and solve their real estate needs. My commercial real estate career spans fifteen years during which I have been directly involved in hundreds of office lease and sale transactions in Denver and other U.S. markets. My clients appreciate the time and attention that I dedicate to understanding their business and executing the plan as well as my consistent communication and reliability throughout the entire process. I have an unrelenting passion to deliver measurable results to my clients.

A diverse background in Tenant Representation, Landlord Representation, and owner/user and investments sales provides me with the unique perspective of viewing a real estate transaction through multiple lenses.

  • 2017 – Present: Colliers International – Vice President, Office Division
  • 2011 – 2017: RISE Commercial Real Estate Advisors (Inverness Properties), Senior Advisor
  • 2010 – 2011: Sheldon-Gold Realty, Broker
  • 2004 – 2010: Boxer Property, Office Leasing Broker
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Lisa Pettyjohn

Marketing Director/Strategist

Denver

Lisa has over 20 years of executive administrative experience in the commercial real estate and legal industries and oversees the marketing and day-to-day operations of the office tenant representation team.

Lisa also obtained her Colorado Real Estate license in 2011 to better assist the brokers she supports.

2002-Present:
Colliers International,  Marketing Director – Office Division

1999-2002:
Grubb & Ellis, Quantum Commercial Group – Business Operations Manager

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